It's possible to trade profitably on the Forex, the nearly $2 trillion worldwide currency exchange market. But the odds are against you, even more so if you don't prepare and plan your trades. According to a 2014 Bloomberg report, several analyses of retail Forex trading, including one by the National Futures Association (NFA), the industry's regulatory body, concluded that more than two out of three Forex traders lose money. This suggests that self-education and caution are recommended. Here are some approaches that may improve your odds of taking a profit. Prepare Before You Begin Trading Because the Forex market is highly leveraged -- as much as 50 to 1 -- it can have the same appeal as buying a lottery ticket: some small chance of making a killing. This, however, isn't trading; it's gambling, with the odds long against you. A better way of entering the Forex market is to carefully prepare. Beginning with a practice account is helpful and risk-free. While you're trading in your practice account, read the most frequently recommended Forex trading books, among them Currency Forecasting: A Guide to Fundamental and Technical Models of Exchange Rate Determination, by Michael R. Rosenberg is short, not too sweet and highly admired introduction to the Forex market. Forex Strategies: Best Forex Strategies for High Profits and Reduced Risk, by Matthew Maybury is an excellent introduction to Forex trading. The Little Book of Currency Trading: How to Make Big Profits in the World of Forex, by Kathy Lien is another concise introduction that has stood the test of time. All three are available on Amazon. Rosenberg's book, unfortunately, is pricey, but it's widely available in public libraries. "Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude," by Mark Douglas is another good book that's available on Amazon, and, again, somewhat pricey, although the Kindle edition is not. Use the information gained from your reading to plan your trades before plunging in. The more you change your plan, the more you end up in trouble and the less likely that elusive forex profit will end up in your pocket. Diversify and Limit Your Risks Two strategies that belong in every trader's arsenal are: Diversification: Traders who execute many small traders, particularly in different markets where the correlation between markets is low, have a better chance of making a profit. Putting all your money in one big trade is always a bad idea. Familiarize yourself with ways guaranteeing a profit on an already profitable order, such as a trailing stop, and of limiting losses using stop and limit orders. These strategies and more are covered in the recommended books. Novice traders often make the mistake of concentrating on how to win; it's even more important to understand how to limit your losses. Be Patient Forex traders, particularly beginners, are prone to getting nervous if a trade does not go their way immediately, or if the trade goes into a little profit they get itchy to pull the plug and walk away with a small profit that could have been a significant profit with little downside risk using appropriate risk reduction strategies. In "On Any Given Sunday," Al Pacino reminds us that "football is a game of inches." That's a winning attitude in the Forex market as well. Remember that you are going to win some trades and lose others. Take satisfaction in the accumulation of a few more wins than losses. Over time, that could make you rich!

Praline Pumpkin Cheesecake

Praline Pumpkin Cheesecake

By Erika Hollis @ErikaAlice
I won a ribbon for this cheesecake a couple years ago at the fair. I hope you enjoy it as much as we do.
Blue Ribbon Recipe
Wow, this pumpkin cheesecake is amazing. The cheesecake itself has a wonderful fall spice pumpkin flavor. It's perfectly smooth and the praline topping adds a marvelous crunch to every bite. Consider putting aside the pumpkin pie and serving this cheesecake at your holiday dinner.

Note: Covering the pan with plastic wrap is a clever trick. It holds in the heat and keeps the cheesecake slightly cooking as it cools down. Just make sure the plastic wrap does not touch the cheesecake when you cover the pan. If any water droplets end up on the cheesecake, gently blot them with a paper towel. The Test Kitchen

Serves:12
Prep:20 Min
Cook:5 Hr 15 Min
Method: Bake

Ingredients
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FOR CRUST
  • 1 3/4 c
  • graham cracker crumbs
  • 4 Tbsp
  • brown sugar, light
  • 1/2 tsp
  • cinnamon
  • 1 stick
  • melted butter
FOR FILLING
  • 3 pkg cream cheese, room temperature; 8 oz each
  • 1 can(s) pumpkin puree; 15 oz
  • 3 large eggs plus 1 yolk
  • 1/4 c sour cream
  • 1 1/2 c sugar
  • 1 Tbsp cinnamon
  • 1/8 tsp freshly grated nutmeg
  • 1/8 tsp ground cloves
  • 2 Tbsp all-purpose flour
  • 1 1/2 tsp good vanilla extract
PRALINE TOPPING
1 1/2 c chopped or whole pecans
1/3 c sugar
1/2 tsp cinnamon
5 Tbsp butter

How to Make Praline Pumpkin Cheesecake

Step-by-Step 
Preheat oven to 350 degrees.
Prepare a standard size springform pan with some cooking spray.
Mix together the dry ingredients.
Add the 1 stick of melted butter and combine.
Press it into the springform pan, inching it up the sides as much as you can. This will make the cheesecake look amazing.
Filling: Mix all of the filling items until they are well incorporated.
Be sure the cream cheese is at room temp so it does not leave any lumps when well mixed.
Pour everything into the prepared crust.
Put into a preheated 350 degree oven for 1 hour.
After 1 hour, test to be sure it doesn't jiggle too much in the center, take it out and let it sit for about 15 minutes.
Cover with Saran Wrap and refrigerate for 4 hours before serving.
PRALINE TOPPING: Put the pecans in a skillet and let them cook, stirring them around on a medium heat for about 5 minutes. This brings out flavor!!
Then add the butter, sugar, and cinnamon and on a medium-high heat. Allow this to caramelize for about 5 minutes.
Empty the mixture out onto waxed paper and allow to cool.
Remove the cheesecake from the fridge and carefully remove the Saran Wrap trying to avoid water droplets from falling on the cheesecake.
Crumble apart and top off the cheesecake with the mixture. Add some fresh whipping cream and serve. OH YUM!

About Praline Pumpkin Cheesecake
Course/Dish: Cakes, Other Desserts
Main Ingredient: Dairy
Regional Style: American
Collections: Pumpkin Patch, Cheesecake
Hashtags: #cream-cheese, #praline, #pecans, #pumpkin



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